Introducing the Trustlines Merkle drop
Trustlines Blockchain requires transaction fees to be paid in the cryptocurrency native to the blockchain: the Trustlines Network Coins (TLC). However, in order to reach a broad set of individuals, a Merkle drop (a “non-spammy” version of an airdrop) of Trustlines Network Tokens (TLN) will be conducted on Ethereum. TLN are ERC20 tokens which can be converted to TLC by sending them to a bridge contract.
The Merkle drop is a smart contract deployed on the Ethereum blockchain. It contains a list of addresses and the amount of claimable Trustlines Network Tokens (TLN) per address in the form of a Merkle root. In order to claim the tokens, recipients will have to provide a Merkle proof to this contract which shows that they are entitled to TLN.
Trustlines Foundation aims to distribute up to 70% of TLN of which 50% will be allocated in the first Merkle drop. More details will be communicated once the final Merkle drop list has been created.
The tokens won’t be pushed onto accounts, but will instead have to be claimed from the Merkle drop smart contract.
Merkle Drop FAQ
1. What is the Trustlines Merkle drop?
The Trustlines Merkle drop is a token distribution method chosen by the Trustlines Foundation for the Trustlines Network Token. You can read more about it in this blog post.
2. Why did you choose a Merkle drop?
The Trustlines Foundation designed the distribution method based on the idea of smart drops.
The Merkle drop is used as a tool to
- Reward early contributors, e.g. validators, testers, and developers
- Target potential stakeholders of the Trustlines Network, e.g. individuals/ projects aligned with the mission of Trustlines, who may turn into users of the Trustlines Protocol
- Make TLC available to a wide audience consisting of addresses and individuals from within the crypto and alternative currency ecosystems by providing them with TLN that they can convert into TLC via the bridge
3. Can someone have multiple allocations of TLN?
Yes. There are two ways in which this could happen.
- You happen to control the private key of multiple eligible Ethereum addresses.
- One or more of your eligible Ethereum addresses fit into more than one group of Merkle drop receivers.
4. Can I claim tokens for a different address than the one I’m signing with?
No, the signing address must also be the eligible address.
5. How much of the Total supply of TLN is in the first Merkle drop?
50% with up to another 20% scheduled for future distribution.
6. Which addresses are included in the Merkle drop?
These are the groups of eligible addresses that can now claim their TLN.
- Early contributors to the Trustlines Network ecosystem. This includes, for example, testers and testnet validatorsas well as those who whitelisted their address to become validators, but did not secure a slot in the auction.
- People who were interested in participating in the drop via our community channels
- ETHBerlin2 hackers
- Addresses included in the Genesis block of Ethereum (with at least one transfer executed)
- Maker (MKR), Bancor (BNT) and DAI token holders
- dxDAO Rep holders and HumanityDAO human participants
- POAP, Proof-of-Attendance NFT holders
- Collection of ETH addresses, that underwent some form of identity verification in the past
7. What can I do with my TLN?
TLN is an ERC20 token that can be transferred or be converted to TLC by sending them to the Trustlines Blockchain bridge contract on Ethereum.
8. Are Trustlines Network Tokens, TLN, freely transferable?
Yes, TLN is an ERC20 token on Ethereum.
9. Are Trustlines Network Coins, TLC, freely transferable?
Yes. You can transfer TLC freely on Trustlines Blockchain.
10. When can people actually use the Trustlines Blockchain?
The Trustlines Blockchain went live November 21st and since then people have been building use cases for the blockchain.
11. When does the Merkle drop end?
The ineligibility of all Ethereum addresses, who have not claimed their tokens, will happen on December 31st, 2021, at 10:59 pm (UTC).
12. Does the amount I’m able to claim decay at some point?
Yes. The tokens people are entitled to will begin to decay linearly over two years starting from 31.12.2019 at 23:59 CET.
13. If I provided an Ethereum address for the Merkle drop or think I’m included in the receiver list, am I being sent TLN automatically?
No. You must submit a Merkle proof from an eligible Ethereum address by yourself. Check this tutorial for a quick introduction on how to do so.
14. How does the Merkle drop work?
The Merkle drop is a smart contract deployed on the Ethereum blockchain that contains a list of addresses and claimable Trustlines Network Tokens per address in the form of a Merkle root. People can provide a proof to this contract and withdraw tokens they are entitled to. The Trustlines Foundation has a web service that allows people to either claim their tokens via a web3 integration (e.g. Metamask) or calculate the needed proof. Once the proof has been created and eligibility established, it can be submitted to the Merkle drop smart contract.
15. Do I have to use the Trustlines Foundation’s website to claim TLN?
No, you can produce your own proof for the Merkle drop. The logic behind the creation of the Merkle tree is public so that anyone can construct the proof for themselves.